Episode Transcript
[00:00:00] Speaker A: Even if you're not, like, that's not your necessary intention. Build it to be as valuable as possible.
[00:00:05] Speaker B: That's right.
[00:00:05] Speaker A: You know, you're going to just be rewarded for that and your team will be rewarded for that along the way. If you never sell it, but be in a position to where you're, you're.
[00:00:14] Speaker B: Profitable and that's the, that's like everybody talks about, like when you get to the top of the mountain. Right. That's great. Right. You sold your company. But, like, what I like to talk about is like, the steps, the failures, like, this is what you need to look out for. Right. When dealing with private equity, there's a three. Three things that you should definitely be careful of, you know, and so, yeah, we'll, we'll be talking about all that stuff.
[00:00:35] Speaker A: Most firms survive the best ones scale.
Welcome to the Managing Partners podcast, where law firm leaders learn to think bigger.
I'm Kevin Daisey.
Let's jump in.
[00:00:48] Speaker B: I just, I just walked in and I'm on a podcast.
[00:00:50] Speaker A: Look at this.
[00:00:51] Speaker B: Right?
[00:00:52] Speaker A: So you can't see this on the podcast, but we have a, an open door right over here that goes outside.
We're in San Diego.
[00:01:00] Speaker B: Funny. San Diego. It's nice.
[00:01:01] Speaker A: And who do you see stumbling by? Look, kind of like a homeless guy. It's Jason Hennessy.
[00:01:05] Speaker B: That would be me. Yes, yes. And we just did a podcast together recently. Right?
[00:01:10] Speaker A: Yeah, we could do more than one. That's okay.
[00:01:12] Speaker B: I love it. Yeah.
[00:01:13] Speaker A: So I saw Jason walking by. It's like, hey, man, come on in. Let's, let's, let's talk shop. Yes, but we don't want to talk shop. No, we want to just talk about what we're doing. We're here at a lot of girl.
[00:01:22] Speaker B: Hanging out, talk about life and. Yeah, it's great. I mean, like, when people come to these events, you never know who you're gonna bump.
You never know new friends you're going to make. You know, it's just, that's what you need to do. Just kind of get out there. If you have never been to this conference, this is definitely one of the, the better ones, for sure. Yeah.
[00:01:40] Speaker A: Last year was my first time here and.
[00:01:44] Speaker A: I remember just how welcoming everyone was. And Bob, yeah, just barely knew Bob and he was just like, so welcome, so nice and so welcoming and just hooked me up with all kinds of good stuff.
[00:01:54] Speaker B: So Bob, Bob is one of those guys that, like, he sits at the cool kids table, but he certainly pulls up a lot more chairs, you know, for, for everybody to Sit at the cool kids table 100. Yep. That's Bob Simon.
[00:02:07] Speaker A: And so obviously we've, you know, this. The event he's put on is just different than any other one out there, in my opinion.
[00:02:12] Speaker B: So, yeah, it's a. It's a lot of fun party. Right.
[00:02:16] Speaker A: Casual.
[00:02:16] Speaker B: Memorable.
[00:02:17] Speaker A: Yes, memorable. Great speakers, great content. You're speaking?
[00:02:21] Speaker B: Yes, yes. I'm talking on Saturday about mergers and acquisitions and private equity. All this stuff that I'm known about. Right.
[00:02:30] Speaker A: Everybody know nothing about that.
[00:02:32] Speaker B: Right. Everybody knows me about that kind of stuff. Right.
[00:02:34] Speaker A: I think it's cool when you talk about something that you know you don't do. I was actually talking to Maxwell. They're like, hey, we want you to speak. And I was like, I don't want to speak on marketing.
Can I speak about something that's not marketing? If people know who I am, that's fine. They'll figure that out.
I just don't want to get on about that. So. So tell me what you're. So you're talking about private equity.
[00:02:53] Speaker B: Yeah. So it's a panel, and so I am going to be on the pan.
Jen Gore, who's on the panel. Right. So she recently kind of merged with Sweet James. Yep.
[00:03:02] Speaker A: Yep.
[00:03:03] Speaker B: Market. Yeah. So she's on the panel. And then I actually brought the gentleman that deals with mergers and acquisitions on the buying side. So from Herringbone Digital, which is the agency that bought me. He's here, and so he'll be on the panel. So we're hearing it from the law firm side, the vendor side, the private equity side. Right. So that's.
[00:03:25] Speaker A: That is actually really, really cool because.
Well, I mean, on the podcast, I talk about, you know, running a business with lawyers that run businesses all day.
[00:03:34] Speaker B: Yep.
[00:03:35] Speaker A: And I run a marketing agency. They run a law firm.
[00:03:38] Speaker B: Yep.
[00:03:39] Speaker A: And there's just so many similarities. A business ran the same way. There's still the same parts.
[00:03:43] Speaker B: Right? True. Yep.
[00:03:44] Speaker A: So that's really cool to kind of see that on stage.
[00:03:49] Speaker B: Yeah. And we'll be, you know, it'll just be unfiltered, you know, so Bob Simon is actually moderating that panel, and so he will always bring good questions. And I think it'll be. It'll be good. Hopefully we give value back, you know, to those that are.
Will sometime be in the interest of selling their law firm or company. Who knows, you know.
[00:04:10] Speaker A: Yeah. I mean, even if, you know, even if you're not like, that's not your necessary intention. Build it to be as valuable as possible.
[00:04:17] Speaker B: That's right.
[00:04:18] Speaker A: You know, you're going to just be rewarded for that, and your team will be rewarded for that along the way. If you never sell it.
[00:04:24] Speaker B: That's right.
[00:04:24] Speaker A: But be in a position to where you're.
[00:04:27] Speaker B: And that's the. That's like everybody talks about, like, when you get to the top of the mountain. Right. That's great. Right. You sold your company. But, like, what I like to talk about is, like, the steps, the failures. Like, this is what you need to look out for. Right. When dealing with private equity, these are three things that you should definitely be careful of, you know, and so, yeah, we'll. We'll be talking about all that stuff.
[00:04:48] Speaker A: I'm looking forward to seeing that. I know Bob. I mean, Bob's great at business and building companies and in culture, so I'm sure he'll have great questions.
[00:04:56] Speaker B: Yes.
[00:04:56] Speaker A: And make that fun. And of course, Jen, you know, she's awesome. She's been on the podcast a few times and yes, she's got a great story and love the brand that she built.
[00:05:05] Speaker B: Yeah.
[00:05:06] Speaker A: And what she's been able to do.
[00:05:08] Speaker B: And I've been following her journey since day one and we've become good friends. In fact, I just. I was her bellman just now because, like, this place doesn't have that many elevators. And so I seen her had this big bag and I'm like, let me get that for you. That's awesome.
[00:05:24] Speaker A: I was just texting her earlier. I was like, hey, where are you getting here? Because we're recording at the show. And she's like, you know, I was like, you can do it today, tomorrow, whatever, doesn't matter. But, yeah, she's trying to squeeze it in, but yeah, just. Just great people all around at this conference. I'm excited to see who else is going to be here. I'm excited to see your talk.
[00:05:41] Speaker B: You never know who you're going to bump into, man. Like, I was just walking by earlier and you know they had Alex Smith, right. On Bourbon approved podcast. He's the number one draft pick back in like 2,015. I don't remember. Five. No, 2005, maybe. I'm not sure. But he was the number one draft pick, starting quarterback for the 49ers for many years. Right. Yeah. And here he is, just that Lottie grass.
[00:06:05] Speaker A: Well, you never know what you're gonna see here.
[00:06:06] Speaker B: You really don't.
[00:06:07] Speaker A: Everyone's so approachable here. The weather's perfect.
[00:06:09] Speaker B: Yeah.
[00:06:10] Speaker A: It's gonna be a good time.
[00:06:11] Speaker B: So, so good. Yeah. So anyway, I'm looking forward to. To this. And it's always good to bump into you, my friend. You know, dude.
[00:06:18] Speaker A: Yeah. I mean, you know, it's.
I watch and learn, and I appreciate how, you know, we've been very cordial and learning from each other.
[00:06:26] Speaker B: That's it. It's law of abundance, right?
So much for everyone out there.
[00:06:32] Speaker A: Well, good to see you, brother.
[00:06:33] Speaker B: Good to see you, too. And thanks for having me on. Yeah. Have fun at the conference, everyone.
[00:06:37] Speaker A: If you missed the conference, you're missing out.
[00:06:39] Speaker B: That's right.
[00:06:40] Speaker A: We'll see you next year.
